NuScale Power Reports Second Quarter 2025 Results

OKLAHOMA CITY--(BUSINESS WIRE)--August 07, 2025--

Mach Natural Resources LP ("Mach" or the "Company") today reported financial and operating results for the three months ended June 30, 2025. The Company also announced its quarterly cash distribution.

Second Quarter 2025 Highlights

• Averaged total net production of 83.6 thousand barrels of oil equivalent per day ("Mboe/d")
• Produced an average of 19.3 thousand barrels of oil per day ("MBbl/d")
• Lease operating expense of $6.52 per barrel of oil equivalent ("Boe")
• Reported net income and Adjusted EBITDA(1) of $90 million and $122 million, respectively
• Generated net cash provided by operating activities of $130 million
• Incurred total development costs of $64 million
• Declared a quarterly cash distribution of $0.38 per common unit

Recent Highlights

• Announced on July 10, 2025, two accretive transactions for a combined consideration of approximately $1.3 billion, significantly enhancing scale and diversifying Mach's portfolio with Permian Basin and San Juan Basin entry

"Our second quarter results reflect continued strong execution of our 2025 plan," said Tom L. Ward, Chief Executive Officer of Mach. "A steady adherence to the four pillars of our disciplined business model allows us to announce a distribution of $0.38 per common unit for the period. Just last month, we took an important step in expanding our operational scale and diversifying our asset base with the announcement of two transformative acquisitions. We believe these transactions lay the groundwork for sustainable long-term growth and underscore our commitment to maximizing unitholder value."

Second Quarter 2025 Financial Results

Mach reported total revenue and net income of $289 million and $90 million in the second quarter of 2025, respectively. Additionally, during the second quarter, the average realized price was $63.10 per barrel of oil, $2.81 per Mcf of natural gas, and $22.41 per barrel of natural gas liquids ("NGLs"). These prices exclude the effects of derivatives.

As of June 30, 2025, Mach had a cash balance of $14 million, remaining availability under the Revolving Credit Facility of $180 million, and a pro forma net-debt-to-Adjusted-EBITDA ratio of 0.9x.

Second Quarter 2025 Operational Results

During the second quarter of 2025, Mach achieved average oil equivalent production of 83.6 Mboe/d, which consisted of 23% oil, 53% natural gas and 24% NGLs. Also, for the second quarter of 2025, Mach's production revenues from oil, natural gas, and NGLs sales totaled $219 million, comprised of 51% oil, 31% natural gas, and 18% NGLs.

The Company spud 9 gross (8 net) operated wells and brought online 11 gross (9 net) operated wells in the second quarter of 2025. As of June 30, 2025, the Company had 3 gross (2.7 net) operated wells in various stages of drilling and completion.

Mach's lease operating expense in the second quarter of 2025 was $50 million, or $6.52 per Boe. Mach incurred $32 million, or $4.18 per Boe, of gathering and processing expenses in the second quarter of 2025. Furthermore, during the second quarter of 2025, production taxes as a percentage of oil, natural gas, and NGL sales were approximately 4.8%, midstream operating profit was approximately $4 million, general and administrative expenses--excluding equity-based compensation of $2 million--was $7 million, and interest expense was $12 million.

In the second quarter of 2025, Mach's total development costs were $64 million, including $59 million of upstream capital and $5 million of other capital (including midstream and land).

Distributions

Mach announced today that the board of directors of its general partner declared a quarterly cash distribution for the second quarter of 2025 of $0.38 per common unit. The quarterly cash distribution is to be paid on September 4, 2025, to common unitholders of record as of the close of trading on August 21, 2025.

2025 Outlook

Following the closing of the Permian Basin and San Juan Basin transactions, which are expected to close during the third quarter of 2025, Mach will provide updated forward-looking guidance.

Additional details of Mach's forward-looking guidance are available on the Company's website at www.machnr.com.

Conference Call and Webcast Information

Mach will host a conference call and webcast at 9:00 a.m. Central (10:00 a.m. Eastern) on Friday, August 8, 2025, to discuss its second quarter 2025 results. Participants can access the conference call by dialing 877-407-2984. A webcast link to the conference call will be provided on the Company's website at www.ir.machnr.com. A replay will also be available on the Company's website following the call.

About Mach Natural Resources LP

Mach Natural Resources LP is an independent upstream oil and gas company currently focused on the acquisition, development and production of oil, natural gas and NGL reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas and the panhandle of Texas. For more information, please visit www.machnr.com.

Non-GAAP Financial Measures and Disclosures

This press release includes non-GAAP financial measures. Pursuant to regulatory disclosure requirements, Mach is required to reconcile non-GAAP financial measures to the related GAAP information. Reconciliations of these non-GAAP measures are provided below. Reconciliations of these non-GAAP measures, along with other financial and operational disclosures, are also within the supplemental tables that are available on the Company's website at www.machnr.com and in the related Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC").

Adjusted EBITDA(1)

Mach includes in this press release the supplemental non-GAAP financial performance measure Adjusted EBITDA and provides the Company's calculation of Adjusted EBITDA and a reconciliation of Adjusted EBITDA to net income, the Company's most directly comparable financial measure calculated and presented in accordance with GAAP. The Company defines Adjusted EBITDA as net income before (1) interest expense, net, (2) depreciation, depletion, amortization and accretion, (3) unrealized loss (gain) on derivative instruments, (4) loss on debt extinguishment, (5) equity-based compensation expense and (6) (gain) loss on sale of assets, net.

Adjusted EBITDA is used as a supplemental financial performance measure by Mach's management and by external users of Mach's financial statements, such as industry analysts, investors, lenders, rating agencies and others, to more effectively evaluate the Company's operating performance and results of operation from period to period and against Mach's peers without regard to financing methods, capital structure or historical cost basis. Mach excludes the items listed above from net income in arriving at Adjusted EBITDA because these amounts can vary substantially from company to company within the industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Adjusted EBITDA is not a measurement of Mach's financial performance under GAAP and should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP or as indicators of the Company's operating performance. Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company's financial performance, such as a company's cost of capital and tax burden, as well as the historic costs of depreciable assets, none of which are reflected in Adjusted EBITDA. The Company's presentation of Adjusted EBITDA should not be construed as an inference that Mach's results will be unaffected by unusual items. The Company's computations of Adjusted EBITDA may not be identical to other similarly titled measures of other companies.

 
  Reconciliation of GAAP Financial Measure to Adjusted EBITDA 
 
                     Three Months Ended      Six Months Ended 
                          June 30,               June 30, 
                    --------------------  ---------------------- 
($ in thousands)      2025       2024       2025        2024 
------------------  ---------  ---------  ---------  ----------- 
Net Income 
Reconciliation to 
Adjusted EBITDA: 
Net income          $ 89,661   $ 39,516   $105,547   $ 81,218 
   Interest 
    expense, net      12,097     25,880     29,514     50,952 
   Depreciation, 
    depletion, 
    amortization 
    and accretion     67,098     68,061    130,683    135,531 
   Unrealized 
    (gain) loss on 
    derivative 
    instruments      (48,551)      (124)    (6,211)    33,099 
   Loss on debt 
   extinguishment         --         --     18,540         -- 
   Equity-based 
    compensation 
    expense            2,103      2,300      4,215      3,482 
   Gain on sale of 
    assets              (138)      (298)      (167)      (309) 
                     -------    -------    -------    ------- 
Adjusted EBITDA     $122,270   $135,335   $282,121   $303,973 
                     =======    =======    =======    ======= 
 

Cautionary Note Regarding Forward-Looking Statements This release contains statements that express the Company's opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results, in contrast with statements that reflect historical facts. All statements, other than statements of historical fact included in this release regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this release, words such as "may," "assume," "forecast," "could," "should," "will," "plan," "believe," "anticipate," "intend," "estimate," "expect," "project," "budget" and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current belief, based on currently available information as to the outcome and timing of future events at the time such statement was made. Such statements are subject to a number of assumptions, risk and uncertainties, many of which are beyond the control of the Company. These include, but are not limited to, the satisfaction of conditions to the closing of the Permian Basin and San Juan Basin transactions; commodity price volatility; the impact of epidemics, outbreaks or other public health events, and the related effects on financial markets, worldwide economic activity and our operations; uncertainties about our estimated oil, natural gas and natural gas liquids reserves, including the impact of commodity price declines on the economic producibility of such reserves, and in projecting future rates of production; the concentration of our operations in the Anadarko Basin; difficult and adverse conditions in the domestic and global capital and credit markets; lack of transportation and storage capacity as a result of oversupply, government regulations or other factors; lack of availability of drilling and production equipment and services; potential financial losses or earnings reductions resulting from our commodity price risk management program or any inability to manage our commodity risks; failure to realize expected value creation from property acquisitions and trades; access to capital and the timing of development expenditures; environmental, weather, drilling and other operating risks; regulatory changes, including potential shut-ins or production curtailments mandated by the Railroad Commission of Texas, the Oklahoma Corporation Commission and/or the Kansas Corporation Commission; competition in the oil and natural gas industry; loss of production and leasehold rights due to mechanical failure or depletion of wells and our inability to re-establish their production; our ability to service our indebtedness; any downgrades in our credit ratings that could negatively impact our cost of and ability to access capital; cost inflation; the potential for significant new tariffs and their impact on global oil, natural gas and NGL markets; political and economic conditions and events in foreign oil and natural gas producing countries, including embargoes, continued hostilities in the Middle East and other sustained military campaigns, the war in Ukraine and associated economic sanctions on Russia, conditions in South America, Central America, China and Russia, and acts of terrorism or sabotage; evolving cybersecurity risks such as those involving unauthorized access, denial-of-service attacks, malicious software, data privacy breaches by employees, insiders or others with authorized access, cyber or phishing-attacks, ransomware, social engineering, physical breaches or other actions; and risks related to our ability to expand our business, including through the recruitment and retention of qualified personnel. Please read the Company's filings with the SEC, including "Risk Factors" in the Company's Annual Report on Form 10-K, which is on file with the SEC, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements.

As a result, these forward-looking statements are not a guarantee of our performance, and you should not place undue reliance on such statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250807773500/en/

CONTACT: FOR FURTHER INFORMATION, PLEASE CONTACT:

Mach Natural Resources LP

Investor Relations Contact: ir@machnr.com

FREMONT, Calif.--(BUSINESS WIRE)--August 07, 2025--

Amprius Technologies, Inc. ("Amprius"), , a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, today announced its business and financial results for the second quarter ended June 30, 2025.

Amprius posted a letter to shareholders on its Investor Relations website, ir.amprius.com, that details the company's results and provides an update on its business initiatives including delivery of new high-performance batteries to the market and engagements with new customers.

Management will also hold a live conference call and webcast today at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) to discuss its financial results and business updates.

Time: 5:00 p.m. ET (2:00 p.m. PT)

Toll-Free Number: 866-424-3442

International Number: 201-689-8548

Webcast: Register and Join

The conference call will be broadcast simultaneously and available for webcast replay here.

About Amprius Technologies, Inc.

Amprius Technologies, Inc. is a leading manufacturer of high-energy and high-power lithium-ion batteries, producing the industry's highest-known energy density cells. The Company's commercially available SiCore(R) and SiMaxx(TM) batteries deliver up to 450 Wh/kg and 1,150 Wh/L, with third-party validation of 500Wh/kg and 1,300 Wh/L. The Company's corporate headquarters is in Fremont, California, where it maintains an R&D lab and a MWh scale manufacturing facility for the fabrication of silicon anodes and cells. To serve customer demand, Amprius entered into several agreements to secure over 1.8 GWh of contract manufacturing capacity. For additional information, please visit amprius.com. Also, see the Company's LinkedIn page.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250807320159/en/

CONTACT: Investors

Tom Colton, Greg Bradbury

Gateway Group, Inc.

949-574-3860

IR@amprius.com

Media

Zach Kadletz, Brenlyn Motlagh

Gateway Group, Inc.

949-574-3860

Amprius@gateway-grp.com

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Century Aluminum Co. (CENX) filed a Form 8K - Operations and Financial Condition - with the U.S Securities and Exchange Commission on August 07, 2025.

On August 7, 2025, Century Aluminum Company (the "Company") issued a press release announcing its results of operations for quarter ended June 30, 2025. A copy of the Company's press release is attached as Exhibit 99.1 and is incorporated herein by reference.

The Company will hold a follow-up conference call on Wednesday, August 7, 2025, at 5:00 p.m. Eastern Time. The earnings call will be webcast live on the Company's website, located at www.centuryaluminum.com. Anyone interested in listening to the live webcast should plan to begin the registration process for the webcast at least 10 minutes before the live call is scheduled to begin. A replay of the webcast and associated presentation materials will be archived and available for replay approximately two hours following the live call.

The information in this Current Report and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

The full text of this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/data/949157/000162828025038866/cenx-20250807.htm

Any exhibits and associated documents for this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/data/949157/000162828025038866/0001628280-25-038866-index.htm

Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.

WINNIPEG, Manitoba--The ICE Futures canola market settled higher for the first time in over a week, with chart-based positioning a feature as support was uncovered to the downside.

Gains in Chicago soybeans, European rapeseed and Malaysian palm oil all provided spillover support, although soyoil was weaker.

A move back above the 100-day moving average in the November contract was supportive from a technical standpoint.

Tight old crop supplies and solid end user demand also underpinned the market, although recent rains in parts of the Prairies were easing dryness concerns for the new crop.

There were 47,389 contracts traded on Thursday, which compares with Wednesday, when 46,074 contracts changed hands.

Spreading accounted for 23,794 of the contracts traded.

Settlement prices in Canadian dollars per metric tonne.

 
           Price      Change 
Nov       677.30     up 7.60 
Jan       689.10     up 7.40 
Mar       697.70     up 7.30 
May       704.90     up 7.20 

Spread trade prices are in Canadian dollars and the volume represents the number of spreads:

 
Months    Prices                            Volume 
Nov/Jan   11.40 under to 12.30 under         9,452 
Nov/Mar   20.00 under to 21.00 under            78 
Nov/May   27.60 under to 27.90 under             5 
Nov/Jul   31.90 under to 32.50 under             3 
Jan/Mar   8.50 under to 8.90 under           1,942 
Mar/May   7.00 under to 7.40 under             375 
May/Jul   4.10 under to 4.80 under              26 
Jul/Nov   34.80 over to 34.00 over              16 
 

Source: Commodity News Service Canada, news@marketsfarm.com

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